Market Outlook

Another range-bound session might be seen, with US markets on National Mourning for former Pres. Jimmy Carter.

Buyers may keep a close watch on local gauges’ movement, to check if supply pressure remains present prior to taking positions in select large caps.

The PSEI continues to trade below all its moving averages, closing down by -1.20% intraday.

Further monitoring on continuity of prior session’s supply pressure is expected, as gauges settle at a comfortable zone.

Eyes are set whether local gauges would continue with its positive momentum, as buyers aim for good entry points in select oversold shares.

Continued advance is likely to be supported, as sentiment might glide to US equities’ Friday rise.

The PSEi continued its recovery to the 6,600 level to start the year on a positive note, rising by 1.15% and closing at 6,603.81 (+75.02).

Market participants may continue to uphold on their feeler’ status, especially with supply pressure still present.

Market participants may continue to seek for clues if local gauges would bolt out from its flattish trend, pending the Fed’s guidance on sequel policies onto early 2025.

Participants may monitor possible ‘good cheers’ this week, as expectations build for the Fed’s 25bps rate cut, as well as from local monetary authorities.

The PSEi ended slightly lower by 0.02%, settling near the 6,600 level.

Eyes are set whether the PSEi would break its monotonous stance, as investors check on continuity of supply pressure.

Market participants will monitor possible continuity of yesterday’s supply pressure, although several might be prodded to position on dips in select stocks with prospective good spins for 4Q.

Attention is on continuity of the local bourse’s ascent, as some might be prodded to seize on this strength to cash-out, pending latest US inflation data later this week.

Subdued sessions may persist, as investors heed for signs of accumulation in select large caps, as well as improved turnover.